Kosmopolito Hotels International Limited
Encyclopedia
Kosmopolito Hotel International Limited (Kosmopolito) (HKEX
2266) develops, owns and operates hotels worldwide with a primary presence in Hong Kong, Malaysia and China. Its key brands include its Boutique Series by Hotel Kosmopolito brand, the upscale Grand Dorsett brand, mid-scale Dorsett Regency brand and its value brand known as Silka Hotels. In terms of Star Classification
, Kosmopolito's hotels fall within the Three-Stars to Five-Stars segment range.
In the Peoples Republic of China, Kosmopolito acquired its first hotel in 2007, the Wuhan Cosmopolitan Hotel, which was rebranded in 2011 to be known as Dorsett Regency Hotel Wuhan.
As at the end of 2010, Kosmopolito's hotel portfolio comprised 15 completed hotels with a total of 3,834 rooms in operation. Also in the development pipeline are another 6 owned hotels and 1 managed hotel, resulting in a total portfolio of 22 hotels with more than 6,200 rooms across Hong Kong, mainland China, Malaysia and Singapore.
MOK, Kwai Pui Bill (Mr)
CHU, Chee Seng (Mr)
LAI, Wai Keong (Mr)
CHIU, Wing Kwan Winnie (Ms)
CHIU, David (Tan Sri Dato')
Hoong, Cheong Thard (Mr)
CHAN, Chi Hing (Mr)
Effective 1 November 2011, Ms Winnie Chiu Wing Kwan assumed the role of President of the Board of Directors of Kosmopolito, taking over from Mr Bill Mok Kwai Pui who moved to the position of Non-Executive Director.
Grand Dorsett Subang Hotel (Malaysia)
Grand Dorsett Labuan Hotel (Malaysia)
Dorsett Regency Kuala Lumpur (Malaysia)
Dorsett Regency Hong Kong (Hong Kong)
Dorsett Regency Wuhan (China)
Silka Seaview Hotel (Hong Kong - Kowloon)
Silka West Kowloon Hotel (Hong Kong - Kowloon)
Silka Far East Hotel (Hong Kong - New Territories)
Silka Johor Hotel (Malaysia)
Cosmopolitan Hotel Wan Chai (Hong Kong)
Cosmo Hotel Wan Chai (Kong Kong)
Cosmo Hotel Mongkok (Hong Kong - Kowloon)
Central Park Hotel Sheung Wan (Hong Kong)
Lan Kwai Fong Hotel Central (Hong Kong)
Yue Shanghai Hotel (China)
Hotels Managed by Kosmopolito:
The Mercer by Kosmopolito (Hong Kong)
Hotels Under Development:
Dorsett Regency Kwun Tong (Hong Kong - Kowloon)
Dorsett Regency Kwai Chung (Hong Kong)
Dorsett Regency Chengdu (China)
Dorsett Regency Zhongshan (China)
Dorsett Regency on New Bridge (Singapore)
In 2011, Kosmopolito completed the sale its 55 room boutique hotel “The Mercer by Kosmopolito” to an independent third party for an aggregate consideration of HK$290.0 million minus the mortgage loan of the project and subject to adjustments. The sale resulted in a gain of approximately HK$81.4 million, realising part of its asset revaluation surplus previously recorded. A management agreement was also signed for Kosmopolito to continue managing the hotel.
Kosmopolito has stated its vision is to become one of the most well-known hotel management companies in Asia, renowned for delivering shareholder returns above industry averages.
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
2266) develops, owns and operates hotels worldwide with a primary presence in Hong Kong, Malaysia and China. Its key brands include its Boutique Series by Hotel Kosmopolito brand, the upscale Grand Dorsett brand, mid-scale Dorsett Regency brand and its value brand known as Silka Hotels. In terms of Star Classification
Star (classification)
Stars are often used as symbols for classification purposes. They are used by reviewers for ranking things such as movies, TV shows, restaurants, and hotels. For example, one to five stars is commonly employed to categorize hotels.-Restaurant ratings:...
, Kosmopolito's hotels fall within the Three-Stars to Five-Stars segment range.
Brief Background
Kosmopolito was listed on the Hong Kong Exchange in October 2010 and is a subsidiary of Far East Consortium International Limited (Far East Consortium) (HKEX 0035). Kosmopolito was previously known as Dorsett International Group Limited and changed its name to Kosmopolito Hotels International Limited in February 2010. Officially in its present form, Kosmopolito commenced operations in 2007. However its hotel business was birthed in 1998 with the acquisition by Far East Consortium of a hotel in Malaysia, being the 320 room Dorsett Regency Hotel Kuala Lumpur. In 2000, the hotel portfolio was expanded into Hong Kong with the acquisition of Dorsett Seaview Hotel, which was subsequently rebranded as Silka Seaview Hotel in 2011. Kosmopolito has largely grown its hotel portfolio through the acquisition of hotels already in operation as well as through the acquisition and subsequent redevelopment or conversion of existing industrial and commercial buildings.In the Peoples Republic of China, Kosmopolito acquired its first hotel in 2007, the Wuhan Cosmopolitan Hotel, which was rebranded in 2011 to be known as Dorsett Regency Hotel Wuhan.
As at the end of 2010, Kosmopolito's hotel portfolio comprised 15 completed hotels with a total of 3,834 rooms in operation. Also in the development pipeline are another 6 owned hotels and 1 managed hotel, resulting in a total portfolio of 22 hotels with more than 6,200 rooms across Hong Kong, mainland China, Malaysia and Singapore.
Board of Directors
Effective 1 November 2011, Ms Winnie Chiu Wing Kwan assumed the role of President of the Board of Directors of Kosmopolito, taking over from Mr Bill Mok Kwai Pui who moved to the position of Non-Executive Director.
Kosmopolito's Hotel Portfolio
Completed Hotels (Own):Hotels Managed by Kosmopolito:
Hotels Under Development:
Business Model & Strategy
During the time of its listing, Kosmopolito has stated its intention to pursue an asset-light business model. In 2010 it entered into the hotel management agreement business by signing a letter of intent with an independent third-party to operate a hotel of approximately 400 rooms in Huangshi, Hubei Province, China which is expected to commence operations in 2013 under its Hotel Kosmopolito brand.In 2011, Kosmopolito completed the sale its 55 room boutique hotel “The Mercer by Kosmopolito” to an independent third party for an aggregate consideration of HK$290.0 million minus the mortgage loan of the project and subject to adjustments. The sale resulted in a gain of approximately HK$81.4 million, realising part of its asset revaluation surplus previously recorded. A management agreement was also signed for Kosmopolito to continue managing the hotel.
Kosmopolito has stated its vision is to become one of the most well-known hotel management companies in Asia, renowned for delivering shareholder returns above industry averages.